Ida Sidha Karya Company is a family-owned company located in the village of Glanyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for S980. Selected data for the company's operations last year follow Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit 240 225 15 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $ 140 $ 360 $ 35 $ 20 Fixed costs Fixed manufacturing overhead Fixed selling and administrative 66,000 $ 28,000 The absorption costing income statement prepared by the company's accountant for last year appears below Sales Cost of goods sold $220,500 182,250 Gross margin Selling and administrative expense 38,250 32,500 Net operating income $ 5,750 Required 1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period Total fixed manufacturing overhead in ending vento 2. Prepare an income statement for the year using variable costing Ida Sicha Karya Company Variable Costing Income Statement Variable expenses Fixed expenses